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Sensex, Nifty come of the session`s high; metal stocks in demand

Published on Oct 24, 2022 18:48

The domestic equity barometers pared some of the day early gains on the Muharat Trading Day. At 18:46 IST, the barometer index, the S&P BSE Sensex, was up 540.02 points or 0.91% to 59,847.17. The Nifty 50 index added 161.25 points or 0.92% to 17,737.55.

In broader market, The S&P BSE Mid-Cap index rose 0.61% while the S&P BSE Small-Cap index gained 1.02%.

The market breadth was strong. On the BSE, 2555 shares rose and 667 shares fell. A total of 127 shares were unchanged.

The domestic market is open today for a special one-hour Muhurat trading session on the occasion of Diwali. The session also marks the beginning of Samvat 2079 -- the Hindu calendar year that starts on Diwali.

The exchanges will remain closed on Wednesday, (26 October 2022), on the occasion of Diwali Balipratipada.

Buzzing Index:

The Nifty Metal index advanced 0.83% to 5,796.25. Ratnamani Metals & Tubes (up 2.58%), APL Apollo Tubes (up 1.78%), JSW Steel (up 1.57%), Tata Steel (up 1.05%) and Steel Authority of India (up 1.03%) were the top gainers.

Among the other gainers were Welspun Corp (up 0.68%), National Aluminium Company (up 0.57%), Hindalco Industries (up 0.57%), Jindal Stainless (up 0.49%) and Hindustan Copper (up 0.48%).

Stocks in Spotlight:

Hindustan Unilever (HUL) fell 3.06%. The FMCG major reported 20% increase in standalone net profit to Rs 2,616 crore on a 16% rise in net sales to Rs 14,514 crore in Q2 FY23 over Q2 FY22. HUL delivered underlying volume growth of 4%. Growth was significantly ahead of the market with more than 75% of the business winning value and volume market shares.

DLF lost 0.39%. On a consolidated basis, net profit of DLF rose 25.88% to Rs 477.04 crore while sales declined 12.06% to Rs 1302.34 crore in Q2 September 2022 over Q2 September 2021.

United Spirits gained 1.41%. On a consolidated basis, net profit of United Spirits rose 89.55% to Rs 553.10 crore while net sales rose 16.09% to Rs 2911 crore in Q2 September 2022 over Q2 September 2021.

Yes Bank slipped 1.56%. The private lender reported 32.23% decline in standalone net profit to Rs 152.82 crore despite of a 17.75% increase in total income to Rs 6,394.11 crore in Q2 FY23 over Q2 FY22.

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